Correlation Between Bankinter and Amper SA
Can any of the company-specific risk be diversified away by investing in both Bankinter and Amper SA at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Bankinter and Amper SA into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bankinter and Amper SA, you can compare the effects of market volatilities on Bankinter and Amper SA and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Bankinter with a short position of Amper SA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bankinter and Amper SA.
Diversification Opportunities for Bankinter and Amper SA
Pay attention - limited upside
The 3 months correlation between Bankinter and Amper is -0.82. Overlapping area represents the amount of risk that can be diversified away by holding Bankinter and Amper SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amper SA and Bankinter is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Bankinter are associated (or correlated) with Amper SA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amper SA has no effect on the direction of Bankinter i.e., Bankinter and Amper SA go up and down completely randomly.
Pair Corralation between Bankinter and Amper SA
Assuming the 90 days trading horizon Bankinter is expected to generate 0.62 times more return on investment than Amper SA. However, Bankinter is 1.6 times less risky than Amper SA. It trades about 0.11 of its potential returns per unit of risk. Amper SA is currently generating about 0.01 per unit of risk. If you would invest 720.00 in Bankinter on September 1, 2024 and sell it today you would earn a total of 29.00 from holding Bankinter or generate 4.03% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bankinter vs. Amper SA
Performance |
| Timeline |
| Bankinter |
| Amper SA |
Bankinter and Amper SA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bankinter and Amper SA
The main advantage of trading using opposite Bankinter and Amper SA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bankinter position performs unexpectedly, Amper SA can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Amper SA will offset losses from the drop in Amper SA's long position.| Bankinter vs. Banco de Sabadell | Bankinter vs. Caixabank SA | Bankinter vs. Acerinox | Bankinter vs. ACS Actividades de |
| Amper SA vs. Ercros | Amper SA vs. Urbas Grupo Financiero | Amper SA vs. Duro Felguera | Amper SA vs. ENCE Energa y |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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